Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Extended against Gate−0.029%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$265as in the Funding arb table

Net, price: spread back to 7d avg − costs−$264as in the Price arb table

costs, in and out, $10k−$2662.661% of the position

Long on Gate Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.014%+$1 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now −0.029%, 7d avg −0.054%

Together, before fees−0.025%+ Points / potential airdropExtended: Active · farm board−$3 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.025% dearer against Gate than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate LAYER_USDT	0.07671	0.0100	pay 0.0050% / 4h	1h 42m	$141K	$40K	20x
Short	Extended LAYER-USD	0.07669	0.0104	get 0.0013% / 1h	42m 49s	$1K	$221K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee GatebpFee ExtendedbpOrdersPrice spread, now −0.029%Rate

Funding earned: $0.84
Price spread: −0.029% → −0.054%: $2.54
Slippage, 4 orders: −$246.15
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$262.77
Costs to cover: 2.661%
Break-even: 2196.8 days

Slippage from Gate: live order book, 58 min ago; Extended: live order book, 64 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Gate live order book, 58 min ago	13.14 bp	96.2 bp −$96	doesn't fit	doesn't fit	doesn't fit
Sell Extended live order book, 64 min ago	5.55 bp	42.3 bp −$42	279.1 bp −$2,791	doesn't fit	doesn't fit

LAYER on 13 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_LAYERUSD	−0.0275%	1h	0.07674	+0.037%	$8K	$54	10x	as long as short
Injective LAYER/USDC PERP	+0.0033%	1h	0.07274	−5.175%	—	$18K	5.5x	as long as short
BloFin LAYER-USDT	+0.0075%	4h	0.07667	−0.052%	$113K	$15K	50x	as long as short
Hyperliquid LAYER	+0.0100%	1h	0.07679	+0.099%	$591K	$168K	3x	as long as short
Aster LAYERUSDT	+0.0100%	4h	0.07670	−0.011%	$9K	$4K	5x	as long as short
Binance LAYERUSDT	+0.0100%	4h	0.07670	−0.013%	$2.1M	$2.4M	50x	as long as short
OKX LAYER-USDT-SWAP	+0.0100%	4h	0.07666	−0.065%	$717K	$667K	20x	as long as short
Gate LAYER_USDTlong	+0.0100%	4h	0.07671	long leg	$141K	$40K	20x
MEXC LAYER_USDT	+0.0100%	4h	0.07673	+0.026%	$373K	$130K	20x	as long as short
Bitget LAYERUSDT	+0.0100%	4h	0.07668	−0.039%	$1.1M	$112K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX LAYER-USDT	+0.0100%	4h	0.07672	+0.013%	—	$1.6M	—	as long as short
ApeX Omni LAYERUSDT	+0.0100%	1h	0.07660	−0.143%	$16K	$194K	50x	as long as short
Extended LAYER-USDshort	+0.0104%	1h	0.07669	−0.029%	$1K	$221K	5x